Bailey speech: Expect four UK rate cuts next year as inflation eases4 Dec 2024 09:47
Expect four UK rate cuts next year as inflation eases.
We emphasised the word gradual on the outlook for rates.
Disinflation process is well embedded but we have further to travel.
We look at fiscal tightening in the budget, but the key is the response of employers to national insurance increases.
Inflation impact of higher trade tariffs is not straightforward at all.
We are beyond the point of responding to issues in financial sector by introducing new regulation.